SMMDvsMSSMETF Comparison
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iShares Russell 2500 ETF (SMMD) and Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) belong to the same industry segment: US Multi-Factor. SMMD's top 3 sector exposures are Finance, Healthcare and Industrials. In contrast, MSSM's top sector exposures are Finance, Technology and Healthcare. SMMD is less expensive with a Total Expense Ratio (TER) of 0.23%, versus 0.89% for MSSM. SMMD is up 17.26% year-to-date (YTD) with +$1.49B in YTD flows. MSSM performs worse with 14.07% YTD performance, and -$82M in YTD flows. Run a side-by-side ETF comparison of SMMD and MSSM below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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SMMD vs MSSM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/18/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SMMD MSSM | -4.67%-5.07% | -3.03%-4.67% | +17.26%+14.07% | +18.17%+15.68% | +62.01%n/a | +46.63%n/a |
| Flows | SMMD MSSM | +$474M+$3M | +$703M-$18M | +$1.49B-$82M | +$1.95B-$82M | +$2.57B- | +$3.06B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SMMD MSSM | +12.80%+13.21% | +17.41%+17.42% | +19.36%n/a | +20.94%n/a |
| Max drawdown | SMMD MSSM | -6.52%-6.98% | -9.48%-9.62% | -25.55%n/a | -28.20%n/a |
| Max drawdown duration | SMMD MSSM | 33d33d | 43d46d | 283dn/a | 980dn/a |
Trading data
SMMD | MSSM | |
Last sale 9/21/2026 at 1:30 PM | $87.52 | $58.04 |
| Previous close 09/18/2026 | $86.97 | $57.68 |
| Consolidated volume 09/18/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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MSSM
is actively managed and doesn’t replicate an indexSMMD | MSSM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/21/2026 at 1:30 PM
Live
Closed
SMMD | MSSM | |
|---|---|---|
| Last price | $87.52 | $58.04 |
| 1D performance | +0.63% | +0.63% |
| AuM | $4.09 B | $691.95 M |
| E/R | 0.23% | 0.89% |
Characteristics
SMMD | MSSM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | iShares | Morgan Stanley |
| Benchmark | Russell 2500 Index | - |
| N° of holdings | 2449 | 1801 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 6, 2017 | December 9, 2024 |
| ESG | No | No |
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Exposure
Countries
SMMD
USA
95.29%
Other
4.71%
MSSM
USA
90.63%
Other
9.37%
Sectors
SMMD
Finance
25.19%
Healthcare
14.82%
Industrials
14.07%
Technology
12.73%
Non-Energy Materi.
8.03%
Other
25.16%
MSSM
Finance
21.3%
Technology
15.21%
Healthcare
14.69%
Industrials
13.77%
Other
35.02%
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Diversification
SMMD
Total weight of top 15 holdings out of 15
4.49%
MSSM
Total weight of top 15 holdings out of 15
9.05%
Top 15 holdings
Data as of July 31, 2026
SMMD
ATI, Inc.
0.34%
BlackRock Cash Funds - Treasury
0.33%
Carpenter Technology Corp.
0.33%
nVent Electric Plc
0.32%
US Foods Holding Corp.
0.30%
F5, Inc.
0.30%
Packaging Corporation of America
0.29%
NiSource, Inc.
0.29%
Tenet Healthcare Corp.
0.29%
Woodward, Inc.
0.29%
SoFi Technologies, Inc.
0.28%
Snap-On, Inc.
0.28%
Viatris, Inc.
0.28%
Affirm Holdings, Inc.
0.28%
Reliance, Inc.
0.28%
MSSM
TechnipFMC plc
0.83%
Ascendis Pharma A/S
0.83%
ViaSat, Inc.
0.76%
Dynatrace, Inc.
0.66%
FTAI Aviation Ltd.
0.65%
KBR, Inc.
0.62%
Regal Rexnord Corp.
0.61%
Veeco Instruments, Inc.
0.58%
Sprouts Farmers Market, Inc.
0.54%
Plexus Corp.
0.51%
Life Time Group Holdings, Inc.
0.50%
Wintrust Financial Corp.
0.50%
Resideo Technologies, Inc.
0.49%
IMAX Corp.
0.49%
Texas Capital Bancshares, Inc.
0.49%
Frequently asked questions about SMMD and MSSM
How have the SMMD and MSSM ETFs performed in 2026?
As of September 18, 2026, SMMD is up 17.26% year-to-date (YTD), while MSSM has returned 14.07%. That puts SMMD better performer ahead so far this year.
Which ETF is attracting more investor money: SMMD or MSSM?
Year-to-date, the SMMD ETF saw +$1.49B in flows, compared to -$82M for MSSM.
Which ETF is more volatile: SMMD or MSSM?
Over the past year, SMMD had a volatility of 17.41%, while MSSM experienced 17.42%.
Which ETF is bigger: SMMD or MSSM?
As of September 18, 2026, SMMD holds $4.09 B in assets under management (AUM), while MSSM manages $691.95 M.
What sectors do the SMMD and MSSM ETFs invest in?
SMMD leans toward sectors like Finance, Healthcare and Industrials. Meanwhile, MSSM focuses on Finance, Technology and Healthcare.
What are the top holdings of the SMMD ETF and MSSM ETF?
SMMD top holdings include ATI, Inc., BlackRock Cash Funds - Treasury and Carpenter Technology Corp.. MSSM holds in its top three: TechnipFMC plc, Ascendis Pharma A/S and ViaSat, Inc..
Which ETF is more diversified: SMMD or MSSM?
SMMD holds 2468 securities with 4.49% of its assets in the top 15. MSSM has 1814 securities and a top 15 weight of 9.05%.
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